Alba, Michigan Property Taxes
The median property tax rate in Alba, MI is 0.30%, significantly lower than both the national median of 0.99% and the Michigan state median of 1.07%. With the median home value in Alba, the typical annual property tax bill is $222, far below the national median of $2,690. Property taxes in Alba are calculated based on the tax-assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Alba's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Alba or another part of Antrim County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alba, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$232
Ownwell’s ALBA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALBA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALBA to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Alba, Michigan
Property taxes in Alba, Michigan, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alba is 1.30%, significantly higher than both the Michigan state median of 1.62% and the U.S. national median of 0.99%. Local government entities within Alba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alba estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Alba's effective property tax rate to other counties in Michigan and the national median. For comparison, the highest median property tax rate in Michigan is 2.32%, while the lowest median tax rate is 0.30%. Understanding how these cities compare with Alba provides valuable insights into the varying tax landscape across Antrim County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alba Tax Rate
0.30%
Average Antrim County Tax Rate
0.72%
Average Michigan Tax Rate
1.07%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49611 | 0.20% | 0.26% | 0.30% | 0.37% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Alba, Michigan
In Alba, Michigan, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Antrim County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Alba, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Alba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Alba is $222, found in zip code 49611.
Average Alba Assessed Value
$77,400
Average Antrim County Assessed Value
$211,000
Average Michigan Assessed Value
$177,800
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49611 | $22,960 | $34,600 | $77,400 | $102,200 | $140,240 |
Source: Ownwell
Property Tax Bills Across Alba, Michigan
In Alba, a city in Antrim County, MI, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Alba is $77,400. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $112 and the 75th percentile at $321. The 90th percentile tax bill reaches $455, illustrating the range of property taxes in the area. Compared to the national median property tax rate of 0.99%, Alba's property tax bills reflect the local economic conditions and property values. Factors such as property size, location, and market conditions are considered when determining the assessed value, which in turn affects the tax bill. For homeowners, understanding these factors is crucial, as they directly impact the annual financial obligations related to property ownership. Managing and anticipating these costs can help homeowners better plan their finances and potentially seek exemptions or appeals if they believe their property has been over-assessed.
Average Alba Tax Bill
$222
Average Antrim County Tax Bill
$1,488
Average Michigan Tax Bill
$1,795
Average United States Tax Bill
$2,690
Property Tax Bills Across Alba, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49611 | $55 | $112 | $222 | $321 | $455 |
Source: Ownwell